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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their older ships as possible, freight rates are expected to remain at break-even lows or even worse. This has become particularly evident in the dry bulk shipping market, where the industry’s benchmark, the Baltic Dry Index has dropped yesterday to just 753 points, down 3.95% on the day and more than 60% since late last year.
Meanwhile, in the demolition market, as Golden Destiny mentions in its latest weekly report, “Bangladesh scrapping ban has been finally lifted, but the government has imposed a new 5% tax on purchasing vessels for scrap that is going to influence scrap buyers appetite on stronger purchases. The Bangladesh Shipbreaking Association is pushing for a reduction in the rate, down to 0.5% that could lead scrap prices to fall by as much as $25/ldt. Scrap prices for dry and wet cargo are close to $500/ldt, but the current freight market environment offers a strong incentive for shipowners to move with overaged vessel disposals and ease the pain of oversupply. India offers the best levels with Bangladesh to follow, $460-$470/ldt for dry and $480-$490/ldt for wet cargo.
The week ended with 17 vessels reported to have been headed to the scrap yards of total deadweight 1,009,630 tons. In terms of the reported number of transactions, the demolition activity has been marked with a 23% week-on-week decline, due to 30% lower volume of demolition transactions in the bulk carrier segment, whereas there has been a 28% increase regarding the total deadweight sent for scrap. In terms of scrap rates, the highest scrap rate has been achieved this week in the tanker segment by India for M/T “BOW PROSPER” with 12,200/ldt at $525/ldt. India has attracted 41% of the total demolition activity with China to follow by winning 5 disposals. At a similar week in 2011, demolition activity was up by 18% from the current levels, in terms of the reported number of transactions, 20 vessels had been reported for scrap of total deadweight 669,529 tons with bulk carriers and tankers grasping 60% of the total number of vessels sent for disposal. India and Pakistan had been offering $465-$475/ldt for dry and $500-$505/ldt for wet cargo, while Bangladesh market had been inactive from the demolition scene” concluded Golden Destiny.
In a separate report, Clarkson Hellas said that the demolition market has remained very active, with many vessels being circulated and subsequently, a big list of sales to report. “However, to judge the market value of a certain ship is becoming increasingly difficult. As evidenced in the sales list, price levels seem like a ‘free for all’ with no actual pattern emerging, clearly highlighting that each vessels value is an individual case by case scenario. On paper, some units seem similar, yet for some reason, a price differential of anything upto USD 10/ldt can be witnessed.
On the buying front, the Chinese and Indian breakers are taking the plaudits this week.
China has been very busy as they looked to acquire tonnage prior to their New Year festivities and were bidding some aggressive numbers in an effort to claw tonnage away from the Indian sub-Continent. Time will now tell whether this recent positive momentum will continue when the market reopens again after their holidays.
India too emerged this week with increasing price levels. Whether these sudden improvements were from cash buyers over-speculating or actually justified on the back of the breakers indications remains to be seen, but some Owners would have definitely benefited from the sudden enthusiasm emanating from this market.
The good news is Bangladesh is definitely open and for an indefinite period too. Some Buyers are now willing to buy tonnage giving delivery February onwards as they believe the income tax situation would be resolved within this month. There remains however the problem of which breakers can actually open Letters of Credit internally. For Owners to consider Bangladesh as an option, a certain degree of caution must still be adopted. Last thing any Owner would wish for is to arrive at anchorage and delivery is unable to take place due to delayed payments. Some cash buyers are optimistic that no such issues will occur, however this is definitely the time for an Owner to tread carefully and wisely when considering selling their units to this area. Price levels on offer appear to be not as competitive as India. However, Bangladesh may soon offer a viable alternative to China for those vessels completing in the Far East. We need to see several vessels arrive, clear inward formalities and beach without delay to know 100 percent for sure that the market is officially ‘open for business’ concluded Clarkson Hellas
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Bhatia International Limited - India
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